US sodium-ion battery startup receives investment from LG Technology Ventures
UNIGRID Inc., a California-based startup developing advanced sodium-ion batteries, announced that it has received an investment from LG Technology Ventures.
This investment is part of LG Technology Ventures’ efforts to create value for promising startups and help build strategic partnerships with LG companies.
SAN DIEGO, Oct. 22, 2024 /PRNewswire/ — LG Technology Ventures has invested in UNIGRID Inc., a California-based startup developing advanced sodium-ion batteries, in the emerging sodium-ion battery development space.
LG Technology Ventures’ investment in UNIGRID reflects a thorough technology evaluation and serves as an endorsement of the startup’s innovative sodium-ion battery technology. This support from one of the market leaders will not only accelerate UNIGRID’s growth, but will also signal to the market the robustness and potential of its solutions.
Sodium-ion batteries are manufactured using rich sodium-based materials. UNIGRID’s batteries are free of lithium, nickel, cobalt and copper, making them a promising means of de-risking the lithium-based battery supply chain. Sodium-ion batteries are cheap, safe, and can operate over a wide temperature range, making them applicable to a variety of energy storage applications.
Since its founding, UNIGRID has established itself as a sodium-ion innovator and technology frontrunner, developing cells with energy densities exceeding those of lithium iron phosphate (LFP) batteries. Additionally, sodium ion battery technology offers greater safety than traditional batteries.
UNIGRID is currently in the process of ramping up production to meet immediate customer demand. This new funding will help the company accelerate product commercialization, build on existing industry partnerships, and deploy the technology for new energy storage and e-mobility applications.
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US sodium-ion battery startup receives investment from LG Technology Ventures, sources
